诺桑比亚大学论文代写：股票
诺桑比亚大学论文代写：股票
根据有效市场假说的股票的价格应该反映所有公开信息和私人信息。如果投资者和分析师的所有信息就应该能够做出明智的决定有关。因此他们应该能够计算内在价值的公司和推荐这些价格。自半强式有效市场包含公共非市场信息,投资者和分析师应该能够分析该公司的财务问题后合并和公司的股东将如何受到影响。他们的行为将理性和使用他们的技能到达价格等于股票的内在价值。这个值应该是一个公司的未来现金流的反映。股票内在价值或公允价值计算贴现与适当的预期的未来现金流折现率取决于公司的风险。因此预计投资者到达这个价格考虑在他们的计算中所有可用的信息是两个公司的财务报表和合并结合细节加上任何进一步的新闻相关的公司和合并。也因为市场认为是有效的强式有效的,这一理论也适用于公司的股票价格。因此假设没有进一步私人信息与选定的投资者可以影响股价的价格如果这些信息在公共领域。因此不存在投资者的私人信息的合并或两家公司可以影响公司的股票价格(越南盾,鲍尔斯和莱瑟姆,2013)。
诺桑比亚大学论文代写：股票
According to the efficient market hypothesis the price of the shares should reflect all the public information and private information. If the investor and the analysts have all the information then should be able to make informed decisions regarding the firm. Hence they should be able to calculate the intrinsic value of both the firms and recommend these prices. Since the semi strong form of efficient markets incorporates the public non market information, investors and analysts should be able to analyze the financial implications for both the firm post merger and how will the shareholders of the firm be affected. They are expected to behave rationally and use their skills to arrive at a price which equals to the intrinsic value of the stock. This value should be a reflection of the future cash flows of the firm. A stock intrinsic value or the fair value is calculated by discounting its expected future cash flows with appropriate discount rate depending on the riskiness of the firm. Hence it is expected that the investors arrive at this price by taking into consideration in their calculations all the information which is available in the financial statements of both the firm and combine with the merger details plus any further news related to the firm and merger. Also since the markets are assumed to be efficient strong form of efficient, the theory also applies to stock prices of the firm. Hence it is assumed that there is no further private information with selected investors which can influence the prices of the share price if that information comes in public domain. Hence no investor exists with the private information about the merger or the two firms which can influence the stock price of the firm (Dong, Bowers & Latham, 2013).
